As a part of its special festive offer, United Bank of India has announced to offer a complete waiver off on processing fees across its retail loans including home loans, car loans and two wheeler loans. The waiver in processing fee which will be available only to the retail borrowers from September 1 to December 31, 2017. Meanwhile, the bank is also offering a 50 per cent waiver on processing fee for mortgage loan, personal and gold loans.

2017-06-16 :United Bank of India reduces 6 month MCLR to 8.55%

United Bank of India (UBI) has slashed its Marginal Cost of Funds Based Lending Rate (MCLR) for 6 month maturity with immediate effect. The MCLR rate for 6 month maturity has been reduced to 8.55 per cent from existing 8.60 per cent. However, the bank has kept its MCLR unchanged for overnight, one month, three month and one year maturity.

2017-05-19 :United Bank of India to raise funds up to Rs. 1,000 crore

United Bank of India is looking to raise funds up to Rs. 1,000 crore through various options. In its regulatory filing, the bank has reported that its board of directors has approved rising of equity capital via Qualified Institutions Placement, Public Issue and Right Issue. However, the bank has not disclosed the purpose of raising the capital.

2017-03-17 :UBI to Get Rs. 418 Crore Capital from Government

United Bank of India had received Rs. 608 crore from the central government through preferential allotment of equity shares in September, 2016. The central government will infuse another Rs. 418 crore capital in the bank as a part of turnaround-linked capital infusion plan. The government has also declared fund infusion of Rs. 22,915, out of Rs. 25,000 crore allocated for 13 public sector banks for the current fiscal 2016-17.

United Bank of India has reduced its overnight and six months marginal cost of lending rates to 8.30 and 8.65 percent respectively. The revised one year MCLR is now 8.80 percent as compared to 9.40 percent earlier. The rates are effective from 6th January, 2017.

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